It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
EUR/USD: euro is on July’s highs
Technical levels: support – 1.1670, 1.1720; resistance – 1.1780.
- Sell — 1.1780; SL — 1.1800; TP1 — 1.1720; TP2 – 1.1670.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun; the market made a new highs but now is extremely overbought – expected a correction to Tenkan-sen or Kijun-sen.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
The New Zealand dollar seems to be tipping out against the USD. Will that be another full cascade downwards?
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The Canadian dollar broke out through the 1.40 psychological mark. What’s the reason?
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